As a property owner and landlord, it’s quite easy to forget about the need to ensure that your properties are safe environments for your tenants. Any accidents or injuries that occur in any of your properties due to your negligence could put you out of business.
Today’s litigious society demands a lot and has a low tolerance for shoddiness. If you are an existing landlord, or intend to become one soon, it is vitally important that you are at least aware of the basic regulations.
The Property business is like any other business where you need to comply with several requirements in order to operate in the business.
Fortunately, the red tape is not that onerous, and will soon become second nature.
As a landlord, you have a duty to
•take safety measures including:
oensuring means of escape are kept clear, maintained in good order and repair, clearly displayed and signposted to all occupants.
oensuring fire fighting equipment is kept in good order and is well-maintained.
otaking all measures reasonably required to protect the occupants from injury, for example, preventing access to unsafe areas, such as roofs.
•supply and maintain water supply and drainage, gas and electricity.
•maintain common parts and installations.
•maintain living accommodation including any furniture or appliance provided by you, the landlord.
•provide waste disposal facilities.
If you’re in the UK, you also need to be aware of The Furniture and Furnishings Regulation 1988, Gas Safety and Electrical Requirements. For example, you need to ensure that you have all gas appliances checked by a CORGI registered engineer every year and any electrical installation needs to be safe to use.
If you are unsure of any specific requirements, you could always contact your local authority and ask them for their advice. They have recently proven to be quite accommodating when responding to landlords’ questions. However, they are quick to take action if they feel that any laws are being broken. Non-compliance could result in hefty fines or imprisonment in the most severe of cases.
A 30 minute Internet search can also provide you with several answers to any popular questions you may have.
Once you’ve bought your first property and have ensured it meets all minimum requirements, all you need to do is to replicate the processes, thus any additional property will be much easier for you to prepare for letting.
A Powerful Millionaire Mindset Factor To Help You Succeed!
Written by Jason Oman
There's one thing all self-made millionaires understand and live by. It's incredibly important for developing the millionaire mindset and for learning how to become a millionaire. This one concept can flat-out make or break your chances for wealth building or achieving success in anything you desire. I'm talking about discipline versus regret.
Multi-millionaire, Jim Rohn, explained it well in a recent interview. Jim is considered to be one of the world's formeost philosophers on achieving success. He's also been a key influence on some of the most successful people in recent history.
Here's what Jim said about discipline versus regret in the interview... "We suffer one of two things. Either the pain of discipline or the pain of regret. You've got to choose discipline versus regret. Because discipline weighs ounces and regret weighs tons.
Let me say that again...
Discipline weighs ounces and regret weighs tons. The reason is because the regret is an accumulated effect a year from now, two years from now, when you didn't do the easy discipline. It's like a cavity in your tooth. The dentist says if we fix it now, it's only $300 and if you let it go, someday it's going to be $3,000.
So, the easier pain of the $300 and sitting in the chair for just a little while takes care of it. But, if you let it go, that's no good. The dentist says, “this cavity is not going to take care of itself. This is something you've got to take care of. You can't cross your fingers and hope it's going to go away. That's not going to help.”
Whatever you see that needs to be corrected, you start taking care of it. If you don't have a splendid diet, you've got to be incredibly thoughtful about how to change that. If your kids don't have a splendid diet, you've got to say, “hey, maybe I should give some attention to my kids and their diet.”
Do you now see the power of this crucial millionaire mindset? It's all about choosing discipline versus regret. What area of your life or your business do you need to apply some disciplines to so you don't end up feeling the huge weight of regret? Get started immediately. Because you now know that it won't take care of itself.
Five Financial Questions To Ask Yourself Now
Written by Ted Jenkin
With a roller-coaster economy and high unemployment, this is the time to take stock and ask yourself some important financial questions to ensure you keep your financial house in order.
Here are five important questions to ask yourself:
1. Do I have an exit strategy with my investments? If the stock market endures another free fall or your company stock takes a dive, how will you secure the assets that have grown over the past year? How far will your money go before you exit the stock market? How much does it need to make before you might take some profit off the table? Learn from the ups and downs you saw in the early 2000s and in 2007-08.
2. Do I have enough of a cash reserve? With job-market uncertainty, make sure you beef up your cash reserve for at least three months more than you would normally have. If you are used to having three months in a cash reserve, double it to six months.
You Can Still Make Money From The Internet Without An Online Business
Written by Javaid Kiyani
Who says you need to create your own product and Web site to make money from the Internet?
Now I’ve generated $1000’s from the Internet since I first started online several years ago. Sure, I found it difficult to make a decent living from the Internet in the beginning.
However, by continually educating myself and trying different methods and processes, I soon learned that it was easy to do well from the internet. In fact, what I found was actually quite shocking at first. However, as I persevered I found it was easier to make a very good living from the Internet than working for a living.
I explain more in the following short video. From the front page, click "Read more" to see the video.
There are certain factors which need to be considered when buying land. In this article, we discuss the basics of buying land for profit.
The first thing to consider when buying land is its location. There is a great difference in the price of land depending on whether it is located in an urban area or the countryside. It may often be difficult to obtain planning permission to build houses on land in the country, especially if the land is green belt. Thus, it may be possible to buy land cheaper in the country. This could primarily be due to supply and demand – fewer potential buyers available. A thorough appraisal of any land, especially its location should therefore be conducted prior to parting with any cash.
The surrounding environment must also be taken into consideration. Smell and ambient sounds play important factors in determining the feasibility of the land for further development. It is not expected that people will trade odors of fumes in urban areas for the agricultural smell of pig dens!